2021 Plan of Finance Amortization
HAWAI
Reserves and Liquidity
The State Continues to Maintain Strong Reserves and Sizeable General Fund Ending Balances
Millions
Historical Fund Balances
OF
STATE O
1959
$2,000
$1,800
HHRF
EBRF
O General Fund Ending Balance
$1,756.6
5% of Prior FY GF Revenues
10% of Prior FY GF Revenues
15% of Prior FY GF Revenues
$1,600
$1,387.2
$1,400
$1,315.6
$1,303.9
$1,314.1
$1,241.9
$1,200
$1,249.9
$1,000
$893.8
$750.3
$752.1
$800
$1,027.8
$991.7
$600
$378.2
$375.7
$400
$319.5
$200
$100.9
$311.3
$58.9
$186.9
$182.1
$177.9
$183.8
$191.3
$187.2
$0
2016
2017
2018
2019
2020
2021 (1)
Fiscal Year
Emergency Budget and Reserve Fund ("EBRF")
$345 million was transferred to the General Fund in FY 2020
■FY 2021 ending balance of $319.5 million, which includes a
$250 million increase from FY 2020
■ Policy target at 10% of prior fiscal year revenues
-
FY 2021 EBRF balance was 3.86% of FY 2020 General
Fund revenues
Hawaii Hurricane Relief Fund ("HHRF")
Fund was not used to balance the budget during COVID-19
FY 2021 market valuation of $187.2 million
While not a formal budgetary reserve, HHRF remains available
as a flexible liquidity source, if needed
Investment income goes to the General Fund
14
(1) Unaudited.View entire presentation